Chancellor George Osborne has approached the head of the Swiss financial watchdog as a possible replacement for Martin Wheatley, Sky News reports.
Financial Market Supervisory Authority chief executive Mark Branson is among several candidates to have been approached about the position, according to the report.
FCA acting chief executive Tracey McDermott, Australian Securities and Investments Commission chairman Greg Medcraft and one other, unnamed candidate are also said to have made the shortlist.
Osborne is expected to sign off on a decision in a matter of weeks.
A Finma spokesman told Sky News: “Mark Branson is very committed to Finma and his CEO role and is not available for other positions.”